Dollar down on week despite late-week gains
March 3, 2006
While the US dollar saw gains on Friday as new data from the service sector was more positive than had been expected, it still was down over the week as a whole. The greenback lost 0.5 percent on the week to sterling, to $1.7537, and it ended the week down 1.3 percent to C$1.1343 in relation to the Canadian dollar, a 14-year low. The strong Canadian dollar was being driven by strong economic growth and the expectation of another rise in interest rates to come.